Category Archives: Retirement Planning

Don Tenne is a senior financial planner for Mass Mutual in Glens Falls.

By Susan E. Campbell

Financial professionals helping clients plan for a comfortable retirement are accustomed to preparing for unknowns. But what happens when foundational systems like income taxes and health care hover on the verge of massive change?

“All the attention in the media is paid to national politics and legislation,” said Don Tenne, a registered representative and senior financial planner for Mass Mutual in Glens Falls. “But we spend our lives locally. How much passed legislation will affect my life, versus my property taxes, zoning or the traffic where I live?”

So he advises his clients, “Don’t get too caught up in tax reform or health care reform, because our lives are lived largely outside of the Washington bubble.”

While tax reform is important, the issue is not change, said Tenne, but how to make a financial plan and stay on course because times always change.

Paul Curtis is a CPA and partner at CMJ LLP in Queensbury. Courtesy CMJ LLP

By Paul Curtis, CPA, CVA, CM&AA

What if your child could invest tax-free money today, and in 40-50 years take the proceeds out tax-free? Would you be interested? Almost anyone who receives compensation can open up a Roth IRA account.

There are two main types of individual retirement accounts, the traditional IRA and the Roth IRA. Traditional IRA’s allow for tax deductions for current year contributions. When distributed, the original contributions, along with any earnings, are then fully taxable. The Roth IRA allows for your contributions and earnings to accumulate tax-free. No tax deduction is allowed for contributions, unlike the traditional IRA, but you never have to pay taxes on qualified distributions.

Greg Larkin, investment officer and financial planner for Adirondack Trust Co BY SUSAN E. CAMPBELL A retirement plan is one of the few tax advantaged savings options available to just about anybody. Still, too few take advantage of a...

By Stephen J. Augstell , MS, CFP Americans are not saving enough for retirement. This is hardly breaking news. When measured against accepted benchmarks--85 percent replacement of preretirement income or 50 percent of preretirement income, if you factor income...

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